Question

Anil Invested an amount for three years at a simple interest rate of 9 p.c.p.a. He got an amount of ₹19,050 at the end of the years. What principal amount did he invest? 

Options

• ₹14,500

• ₹11,050

• ₹15,000

• ₹10,950

Answer 1

₹15,000

Explanation:

Let the principal be ₹ x

∴ Interest = (19050 − x)

Now,

Principal = `("Interest" xx 100)/("Time" xx "Rate")`

⇒ x = `((19050 - "x") xx 100)/(3 xx 9)`

⇒ 27x = 1905000 − 100x

⇒ 127x = 1905000

⇒ x = `1905000/127`

= ₹15,000